American West Metals (ASX:AW1) and trading services provider Ocean Partners have completed a $2 million placement and a binding offtake agreement, giving Ocean Partners a 9.4% stake and rights to 100% of future copper, silver, and gold production from the company's Storm copper project in Canada, according to a Thursday filing with the Australian bourse.
Ocean Partners will also provide up to 80% of initial project capital via debt financing, subject to a bankable feasibility study, the filing said.
Processing and optimization work is underway, the filing added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.